| Decision | Consent declined Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Delegatee for the Minister of Finance (consent approved) Minister for Land Information (consent declined) |
| Decision Date | 25 July 2020 |
| Pathway(s) | Sensitive land – substantial and identifiable benefit to New Zealand |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 627 hectares of land (subject to final survey) located in the Waihopai Valley, Marlborough. |
| Consideration | $950,000 |
| Applicant | Ernslaw One Limited Malaysia (89.48%) Singapore (10.52%) |
| Vendor | Geoffrey Ian Tudor Evans, Elizabeth Mary Evans and Wain & Naysmith Trustees No. 3 Limited as trustees of the Geoffrey Evans Family Trust New Zealand (100%) |
| Background | The Applicant is a forestry and timber processing business operating in various locations throughout New Zealand. The land is a planned subdivision of a larger sheep and beef farm which the vendor has identified as being uneconomic for farming activities and which the Applicant wishes to convert to forestry activities (to be used in conjunction with an adjoining forest). For consent to be granted, Ministers needed to be satisfied that the proposed investment would result in substantial and identifiable benefit to New Zealand. The Delegatee for the Minister of Finance, Hon Nash was satisfied that the investment would result in substantial and identifiable benefit to New Zealand, which is a criterion for consent under the Overseas Investment Act. However, the Minister for Land Information, Hon Sage was not satisfied. The Overseas Investment Act provides for two Ministers to each independently decide an application like this. Consent is only granted if both Ministers grant consent. |
| More information | Deirdre Norris Glaister Ennor PO Box 63 AUCKLAND 1140 |